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A quarter of landlords looking to sell: RLA

A quarter of private landlords intend to sell at least one property within the next year, according to data collected by the Residential Landlords Association.

Specifically, 17 per cent of the 2,380 landlords who took part in the survey answered in the affirmative, while 8.5 per cent said they planned to sell two or more properties.

Meanwhile, 10 per cent said they were looking to buy one more property in the next year, 5.2 per cent reported that they wanted to add two to their portfolio, while the majority, 59.3 per cent, replied that they wanted to keep things the same.

The association also says that 23 per cent of landlords reported an increase in the demand for rental property over the last three months, while 57 per cent reported the market to be stable.

RLA policy director David Smith points to government intervention as a reason for a number of landlords wanting to reduce their exposure to the market: “The government’s tax increases on the sector are already making it difficult for tenants to find a place to live, with many landlords not renewing tenancies.”

He adds that the planned abolishment of Section 21 risks “making the situation even worse.”

The RLA’s figures also reveal that over a third of landlords reported low levels of confidence in the private sector in the last 12 months.

According to the RLA, it is vital that landlords retain confidence to provide homes to rent, by ensuring new regulations are implemented on how landlords can regain possession of their properties.

Residential Landlords Association policy director David Smith comments: “All the talk of longer tenancies will mean nothing if the homes to rent are not there in the first place.

“Action is needed to stimulate supply with pro-growth taxation and a process for repossessing homes that is fair to all.”

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